14When the hour had come, He reclined at the table, and the apostles with Him. 15And He said to them, “I have earnestly desired to eat this Passover with you before I suffer; 16for I say to you, I shall never again eat it until it is fulfilled in the kingdom of God.” 17And when He had taken a cup and given thanks, He said, “Take this and share it among yourselves; 18for I say to you, I will not drink of the fruit of the vine from now on until the kingdom of God comes.” 19And when He had taken some bread and given thanks, He broke it and gave it to them, saying, “This is My body which is given for you; do this in remembrance of Me.” 20And in the same way He took the cup after they had eaten, saying, “This cup which is poured out for you is the new covenant in My blood. Luke 22:14-20 NASB
22While they were eating, He took some bread, and after a blessing He broke it, and gave it to them, and said, “Take it; this is My body.” 23And when He had taken a cup and given thanks, He gave it to them, and they all drank from it. 24And He said to them, “This is My blood of the covenant, which is poured out for many. 25“Truly I say to you, I will never again drink of the fruit of the vine until that day when I drink it new in the kingdom of God.” Mark 14:22-25 NASB
In the OT the blood used in the sacrifice was never consumed. It was poured out.
The Greek for remembrance is ἀνάμνησιν {ἀνάμνησις (used both here in Luke and 1 Corinthians 11:24)}. Strong's defines this as a recalling, remembrance, memory.
When I partake of the Lord's Supper I am reminded of the sacrifice of His perfect life, His shed blood, His sufferings, He freely gave to cover my sins...all of my sins.